Peanut allergy is the leading cause of fatal and near-fatal food allergic reactions in the U.S. Approximately 1.5 million Americans have peanut allergy and studies indicate that peanut allergic patients experience one accidental peanut allergic reaction every 2 years. The purpose of this study is to determine whether a new product made by Tanox, Hu-901 can safely reduce allergic reactions to peanut in highly allergic individuals. Hu-901 is an antibody that removes IgE antibodies (the factor that causes allergy) from the body. By removing the IgE antibodies that recognize peanut protein, peanut allergic patients should be able to ingest peanuts without experiencing a reaction. This study will determine the safety and benefit of three different doses of Hu-901.